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Demand for legal marijuana continues to increase as new markets open and existing markets expand. This trend is just getting started and has created countless opportunities for ancillary businesses.
As the marijuana industry in the United States continues to expand, the need for lab testing services will continue to increase.
This need has created a significant opportunity for companies and we are favorable on this vertical of the legal marijuana industry.
One company capitalizing on this trend is EVIO, Inc. (EVIO), a life science company that provides accredited analytical testing services and scientific research to the regulated cannabis industry.
EVIO: Expands Capabilities and Reach in Oregon
EVIO has been executing on its strategy and we are favorable on the recent developments. In late October, the company announced that it has expanded testing capabilities in its Yuba City laboratory.
In anticipation of California’s new testing rules which are scheduled to commence on January 1, 2018, EVIO has invested in additional instrumentation to offer a full suite of testing services including pesticide, microbiological, and expanded cannabinoid potency testing.
A week before this expansion, EVIO opened its fifth testing location in eastern Oregon. This is a significant development as it provides some validation to the company’s expansion strategy.
EVIO is a life science company that provides accredited analytical testing services and scientific research to the regulated cannabis industry. EVIO’s lab division provides state-mandated ancillary services to ensure the safety and quality of the nation’s cannabis supply.
Executing on a U.S. Expansion
Over the last few months, EVIO has been nothing short of an execution story and it has been following through on its announcements. During this time, EVIO has expanded its reach and entered the Florida, Massachusetts, and California market.
